This project is about increasing the performance of SMW as suggested by Markus Krötzsch [2]..
Semantic MediaWiki is about making extensive use of the data in a wiki such that it can be processed and queried dynamically, but when used with wikis with large contents it has a few performance issues see discussion
Here are a few performance degradation issues with SMW

Frequent writes to the database ( writes occur even if nothing has changed ).

Some Special pages require expensive database queries, loading them takes lot of time.

RDF exports and RSS feeds (frequently generated by Users) require many string concatenations in PHP which are not efficient.

Pages that display large inline query results or use complex templates can lead to hundreds of database queries leading to slow performance.

SMW database was designed with varying number of DataItems in mind, but later the number of DataItems were fixed at 10, the database design thus needs a few refinements.

My proposal is to improve the performance by making efficient use of the resources and implementing caching to reduce SMW's energy consumption.
This can be achieved in steps explained in the deliverables.

1. Hash table to validate if write queries are new.
2. Expensive Special Pages are identified and cached
3. Special:ExportRDF identifies queries that are frequent and uses cached data.
4. Special Page to allow the admins to control caching for different RDF and RSS exports.
5. Pages that have large inline queries or complex templates are identified and cached using memcache.
6. Improvements to SMW's accesses to the database.
7. Profiling and documentation.

Profiling all the Pages where caching is implemented to measure performance.

Document the new variables used in Localsettings.php to enable/modify caching features that will be used.

Milestone 1 (1 week) Implement a table to store hash values of queries, before performing any query we do a hash and compare with the initial hash from the table, if different we perform the write and rewrite the hash value in the table.( Careful! we might have done a Delete query already. )

Milestone 2 (1 weeks)Implement caching in expensive Special Pages.

This can be done in two ways using memcache or implementing MW's Query Page

Milestone 3 (2 week) Highly polled RDF and RSS exports are cached

Exports that are polled with high frequency are cached using MW's file caching techniques.

Hi! My name is Nischay Nahata, an engineering student from India. In a year I shall complete my B.tech in Information Technology. Most of my code is generally written in C and PHP ( also trying Python now ). I started to work on FOSS about a month ago when my search for internship and love of PHP landed me here, and since then I have spent most time coding for MediaWiki. This serves two purpose for me, getting to work with experienced developers from different parts of the world and contributing to Wikimedia with code.
In recent days, I have been highly influenced by the idea of a Semantic Wikipedia (concept of Wikidata), wherein we can not only search but also query Wikipedia. Hence I chose this project, it will let me know the SMW code better and therefore help me to contribute to both SMW and Wikidata in future.

My Open-Source journey started at MediaWiki itself. Till date I have made two extensions, added two new formats to Extension Semantic Results Format and added caching to a few Special Pages of SMW. Besides, I have also solved bugs/enhancements and have also been communicating with other developers. Here is a gist of all of my work for MW User:Nischayn22. I am good at understanding existing code( PHP ) and currently going through the core code of SMW.